Request for City of Austin Resolution 2017 9% Competitive Low Income Housing Tax Credits Vi Collina
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Request for City of Austin Resolution
2017 9% Competitive Low Income
Housing Tax Credits
Vi Collina
2431 E. Oltorf
Austin, TX 78741
SUBMITTED BY:
Saigebrook Development, LLC
Contact: Megan Lasch
421 West 3rd Street, Suite 1504
Austin, Texas 78701
830.330.0762
Submitted: December 11, 2017
REQUEST FOR CITY OF AUSTIN RESOLUTIONS
for
2018 - 9% Competitive Low Income Housing Tax Credits
This sheet provides a guide for developers requesting resolutions required by the Texas Department of Housing and
Community Affairs for 9% Low Income Housing Tax Credit applications for the 2018 Cycle. This form and all attachments
will be due no later than close of business on Monday, December 11, 2017. All resolutions being requested are subject
to approval by the Austin City Council. It is anticipated that resolutions will be on the Austin City Council Agenda for the
February 1, 2018 meeting.
1. Resolutions. Please indicate which resolutions are being requested from the City of Austin.
X Resolution of Support from the Local Governing Body (will be provided to all applicants completing this
form and providing all attachments)
X Twice the State Average Per Capita (will be provided to all applicants completing this form and providing all
attachments)
X One‐Mile/Three‐Year Rule
Limitations on Developments in Certain Census Tracts
X Development contributing more than any other to the City’s concerted revitalization efforts (only one
application will receive this designation)
X Project in a Community Revitalization Plan (CRP) Area
2. Commitment of Development Funding by Local Political Subdivision. Funding commitments from
the City of Austin will be provided to developments in the form of waived fees through the S.M.A.R.T. Housing
Program. Letters from the City of Austin regarding waived fees will comply with the requirements of the 2018
QAP and will be provided to applicants if the development qualifies for S.M.A.R.T. Housing Certification.
Applications for S.M.A.R.T. Housing certification go through a separate review process, and are due by
January 15, 2018. For more information on the S.M.A.R.T. Housing Program, email Sandra Harkins, Project
Coordinator, at sandra.harkins@austintexas.gov.
For the request to be considered, please attach the following information:
1) Please complete the attached Project Summary Form (Excel)
2) Provide a map (8 ½” x 11”) indicating the property location and the distance a resident would actually have to
walk on a paved surface to get to the nearest transit stop.
3) Provide a flood plain map generated by www.ATXFloodPro.com with the property parcel identified and the
legend displayed showing the various types of FEMA Flood Plain zones, if any.
4) Provide information about the Developer’s Experience and Development Background.
Requests should be submitted to Neighborhood Housing and Community Development, 1000 East 11th Street, 2nd
Floor, Austin, TX 78702 to the attention of Ellis Morgan. For more information, contact Ellis Morgan at 512‐974‐3121
or by e‐mail at ellis.morgan@austintexas.gov. E‐mailed submissions are acceptable in PDF format.
Deadline to Submit: 5:00 pm, Monday, December 11, 2017.
I certify that, to the best of my knowledge, the attached information provided is true and correct.
Authorized Representative _ _______________________________ Date 12‐5‐17
Nearest Transit Stop and Site Location Map
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Trip Planner Next Departure Locate
2431 E OLTORF ST, Austin, TX 78741
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Leaflet | Map data © OpenStreetMap contributors, Imagery © HaCon
Vi Collina is located in close proximaty to numerous transportation
stops.
2431 E Oltorf St, Austin, TX 78741 to 2502 Oltorf/Pleasant Valley Walk 0.1 mile, 2 min
Two-minute walk on 0.1-mile paved service from the site, 2431 E. Oltorf St. to the nearest Cap Metro Bus Stop (ID 1356) at 2502 E. Oltorf.
Map data ©2017 Google 100 ft
Flood Plain Map
FEMA Floodplains Address
The City of Austin Watershed Protection Department produced this product for informationalpurposes.It is not intended Parcel
for or suitable for legal, engineering, or surveying purposes. It does not represent an on-the-ground survey and FEMA Floodplain
represents only the approximate relative locations of property boundaries. No warranty is made by the City of Austin
regarding specific accuracy or completeness. Final determination of the floodplain status for a property must be based 100 Year (Detailed-AE)
on a topographic survey by a Texas registered professional. For regulatory purposes, 100-Year floodplain elevations
must be determined from an engineering model created in accordance with the Drainage Criteria Manual and approved 100 year (Shallow-AO)
by the City of Austin.
100 Year (Approx-A)
X Protected by Levee
0 200 400 Feet 500 Year
Prepared: 12/5/2017
Complete List of Development
Experience
DEVELOPMENT TEAM AND CAPACITY
Saigebrook Development and its Principal, Lisa Stephens, have specialized in providing first-
class affordable and workforce housing communities in urban core and suburban areas since
1996. Ms. Stephens and team have secured 18 allocations of 9% Housing Tax Credits in the last
8 application cycles in Texas and have financed and closed approximately 5,000 units in the
southeastern United States.
Vi Collina would be Saigebrook Development’s 5th community in the Austin community. Art at
Bratton’s Edge celebrated its grand opening on December 7th, 2016. This community is a garden
style, mixed income, family oriented
development located off I-35 and Grand
Avenue Parkway. This amenity rich
development offers one, two, and three
bedroom apartments totaling 78 units. The
community consists of two and three-story
buildings and a two story clubhouse/
amenities center with units above.
LaMadrid Apartments was funded in 2015
and is currently nearing completion.
LaMadrid will be located off south
Manchaca and Ravenscroft Drive.
Most recently, this team received 9% tax credit allocation for Aria Grand to be located at 1800 S.
I-H 35. Aria is a 70 unit mixed income, podium style development located close to Austin’s
urban core. In addition, this team is developing Elysium Grand, a 4% housing tax credit
development in conjunction with Housing Authority of Austin.
This development is located at 3300 Oak Creek Boulevard, in
close proximity to the Domain and North Austin Medical Center.
This property will also serve Veteran’s by including 25 units set
aside for VASH residents.
Saigebrook’s dedicated team includes Lisa Stephens, Principal and
Team Leader and Megan Lasch, Project Manager and Primary
Contact and Nathan Henry, Development Associate for Langford
Square. The development team has built its reputation not as the
biggest or the busiest in the field, but as a premier affordable
housing developer based on consistent quality, innovation in
design and long-term viability of each development. Saigebrook
will specifically oversee the Development Plan including but not limited to planning,
environmental testing, design oversight, financing, permitting, construction, lease-up, and
stabilization of the property. Collectively, the Saigebrook team has extensive experience in allaspects of housing development including market analysis, site selection and control, planning,
design, construction, financing, management and compliance. Saigebrook Development has not
had any changes in its company name nor has it undergone reorganization since incorporating in
2011. More information on each individual is included below.
Profile of Principals and Staff
The key team members for Saigebrook Development, LLC are Lisa Stephens (Principal and
Team Leader), Megan Lasch (Project Manager), and Nathan Henry (Development Associate).
The Principal and Team Leader for Langford Square, LISA STEPHENS, has
more than 15 years of experience in developing, financing and operating
affordable housing. She has secured fourteen allocations of 9% Housing Tax
Credits in the last seven application cycles in Texas and has financed and closed
approximately 5,000 units in the southeastern United States. Ms. Stephens is the
Owner and President of
Saigebrook Development,
LLC, a WBE/Texas HUB certified real
estate development firm. Ms. Stephens
was named by Affordable Housing
Finance magazine as one of twelve 2009
"Young Leaders," a prestigious award
honoring individuals under the age of 40
who have been nominated by their peers
and colleagues as the next generation of
affordable housing and community
development leaders. Ms. Stephens received her BA in Accounting and Finance from the
University of Florida and is certified by the U.S. Green Building Council as a LEED Green
Associate. She currently serves on the National Green Building Standards’ Green Advisory
Council.MEGAN LASCH- Originally from Grove, Oklahoma, Ms. Lasch has ten
years of experience in the project management/consulting industry.
Having received her Bachelor’s degree in Biosystems Engineering from
Oklahoma State University, Ms. Lasch began her career as an
engineering consultant where she helped design a variety of public and
private development projects. Ms. Lasch is the Owner and President of O-
SDA Industries, LLC, a City of Austin MBE/WBE/Texas HUB certified
real estate development firm. Ms. Lasch is based in Austin, Texas and
serves as the project manager/developer for all Saigebrook Developments. Ms. Lasch helps to
manage all aspects of the project life
cycle from site identification, TDHCA
application, to managing third party
consultants throughout the design process
and ultimately to project completion. Ms.
Lasch served as the Board Chair for
Skillpoint Alliance, a non- profit
providing technology based workforce
training, and is a member of the Real
Estate Council of Austin.
NATHAN HENRY, a Texas native has more than ten years designing and developing
multifamily projects across the country. A
professional degree in Architecture allowed
Nathan’s career to begin with award
winning architecture firms across the
Metroplex and to be recognized as a critical
team member in the arduous entitlement
process for a $300M five-star mixed-use
urban development. Nathan focuses on
aligning development teams to turn an
initial concept into a final certificate of
occupancy. Clients and colleagues not only
recognize Nathan as an exceptional
communicator with an innate ability to get the most out of those he works with, but also as a
great leader and an asset to any development team.Contact Information
Lisa M. Stephens (Principal & Team Leader)
421 West 3rd Street, Ste. 1504
Austin, TX 78701
352.213.8700
Lisa@saigebrook.com
Megan Lasch (Project Manager & Primary Contact)
421 West 3rd Street, Ste. 1504
Austin, TX 78701
830.330.0762
Megan@o-sda.com
Nathan Henry (Development Associate)
421 West 3rd Street, Ste. 1504
Austin, TX 78701
512.779.6652
Nathan@saigebrook.com
*A list of our most recent projects are included behind this coverTYPE , STYLE & UNIT TYPE/ FINANCING GREEN
PROPERTY UNIT TYPE
TENANT MIX SIZE (SF) SOURCES CERTIFICATION
Pre-Development
Alton Plaza New Construction 6 - 0BR 0BR - 550 SF LIHTC - 9% (TDHCA)
202 Whaley Street Adaptive Reuse 17 - 1BR 1BR - 650 SF
Longview, TX 75607 Family 26 - 2 BR 2BR - 850 SF
Affordable & Market Rate Total: 49
30%. 50% & 60% AMI
Aria Grand New Construction 12 - 1 BR 1BR - 693 SF LIHTC - 9% (TDHCA)
IH35 & Woodland Drive Podium 30 - 2 BR 2BR - 873 SF
Austin, TX 78704 Family 28 - 3 BR 3BR - 1050 SF
Affordable & Market Rate Total: 70
30%. 50% & 60% AMI
Edgewood Place New Construction 18 - 1BR 1BR - 700 SF LIHTC - 9% (TDHCA)
617 Clinic Drive Garden Style 36 - 2BR 2BR - 855 SF
Longview, TX 75605 Family 20 - 3BR 3BR - 1144 SF
Affordable & Market Rate Total: 74
30%. 50% & 60% AMI
Elysium Grand New Construction 8 - 0BR 0BR - 500 SF LIHTC - 4% (TDHCA)
3300 Oak Creek Drive Podium 15 - 1 BR 1BR - 700 SF
Austin, Texas Family 41 - 2 BR 2BR - 855 SF
Affordable & Market Rate 16 - 3 BR 3BR - 1140 SF
30%. 50% & 60% AMI Total: 80
Mistletoe Station New Construction 21 - 1 BR 1 BR - 700 Sft LIHTC - 9% (TDHCA)
1916 Mistletoe Blvd. Garden Style & 51 - 2BR 2 BR - 850 SF
Fort Worth, TX 76104 Podium Style 28 - 3BR 3 BR - 1150 SF
Family Total: 100
Affordable & Market Rate
30%, 50% & 60% AMI
DEVELOPMENTS UNDERCONSTRUCTION
Kaia Pointe New Construction 28 - 1 BR 1 BR - 705 SF LIHTC - 9% (TDHCA)
104 Bettie Mae Way Garden Style 56 - 2 BR 2 BR - 948 SF $13,530,000
Georgetown TX 78633 Family 18 - 3 BR 3 BR - 1139 SF
Affordable & Market Rate Total: 102
NOT AVAILABLE
30%, 50% & 60% AMI
Stillhouse Flats New Construction 22 - 1 BR 1 BR - 737/762 SF LIHTC - 9% (TDHCA)
2926 Cedar Knob Road Garden Style & 50 - 2 BR 2 BR - 93/958 SF $14,180,000
Harker Heights, TX 76548 Townhomes 24 - 3 BR 3 BR - 1159 SF Local Government
Family Total: 96 Contribution
NGBS
Affordable & Market Rate
30%, 50% & 60% AMITYPE , STYLE & UNIT TYPE/ FINANCING GREEN
PROPERTY UNIT TYPE
TENANT MIX SIZE (SF) SOURCES CERTIFICATION
LaMadrid Apartments New Construction 18 - 1 BR 1 BR - 750 SF LIHTC - 9% (TDHCA)
11320 Manchaca Road Garden Style & 53 - 2 BR 2 BR - 950 SF $13,380,000
Austin, TX 78748 Townhomes 24 - 3 BR 3 BR - 1150 SF City of Austin RHDA
Family Total: 95
NOT AVAILABLE NGBS
Affordable & Market Rate
30%, 50% & 60% AMI
DEVELOPMENTS COMPLETED
Barron's Branch New Construction 30- 1 BR 1 BR - 750 SF LIHTC - 9% (TDHCA)
817 Colcord Ave Garden Style 86 - 2 BR 2 BR - 975 SF $20,331,756
Waco, TX 76707 Family 48 - 3 BR 3 BR - 1175 SF
Affordable and Market 4 - 4 BR 4 BR - 1298 SF
NGBS Silver
Rate Total: 168
30%, 50%, 60% AMI
Art at Bratton's Edge New Construction 16 - 1 BR 1 BR - 750 SF LIHTC - 9% (TDHCA)
15405 Long Vista Dr Garden Style 46 - 2 BR 2 BR - 975 SF
Austin, TX 78727 Family 16 - 3 BR 3 BR - 1175SF
Affordable and Market Total: 78
NGBS Bronze
Rate
30%, 50%, 60% AMI
Liberty Pass New Construction 12 - 1 BR 1 BR - 750 SF LIHTC - 9% (TDHCA)
17321 Lookout Road Garden Style 62 - 2 BR 2 BR - 975 SF
Selma, TX 78154 Family 26 - 3 BR 3 BR - 1175SF
Affordable and Market 4 - 4 BR 4 BR - 1298 SF
NGBS Silver
Rate Total: 104
30%, 50%, 60% AMI
Summit Parque New Construction 31 - 1 BR 1 BR - 750 SF LIHTC - 9% (TDHCA)
12777 Merit Drive Mid-Rise 49 - 2 BR 2 BR - 950 SF $14,870,000
Dallas, TX 75251 Family 20 - 3 BR 3 BR - 1150 SF
Affordable and Market Total: 100
NGBS Silver
Rate
30%, 50%, 60% AMI
Tupelo Vue New Construction 16- 1 BR 1 BR - 651 SF LIHTC - 9% (FHFC)
525 Avenue G NW Garden Style 38 - 2 BR 2 BR - 938/985 SF $12,200,380
Winter Haven, FL 33881 Family 16 - 3 BR 3 BR - 1115 SF
Affordable and Market 4 - 4 BR
NGBS Bronze
Rate Total: 70
30%, 50%, 60% AMI
Saige Meadows New Construction Flats: 1 BR - 706/760 SF LIHTC - 9% (TDHCA)
13488 Hwy 69N Garden Style 22 - 1 BR 2 BR - 919 SF $11,870,348
Tyler, TX 75706 Family 44 - 2 BR 2 BR TH - 1156 SF
Affordable and Market 4 - 3 BR 3 BR - 1085 SF
NGBS Bronze
Rate Townhomes: 3 BR TH - 1440 SF
30%, 50%, 60% AMI 6 - 2 BR
16 - 3 BR
Total: 92TYPE , STYLE & UNIT TYPE/ FINANCING GREEN
PROPERTY UNIT TYPE
TENANT MIX SIZE (SF) SOURCES CERTIFICATION
La Ventana New Construction 16 - 1BR 1 BR - 849 SF LIHTC - 9% (TDHCA)
2109 Texas 351 Garden Style 36 - 2 BR 2 BR - 1102 SF $6,462,643
Abilene, TX 79601 Family 28 - 3 BR 3 BR - 1303 SF
Affordable and Market 4 - 4 BR 4 BR - 1561 SF
N/A N/A
Rate Total: 84
30%, 50%, 60% AMI
Amberwood Place New Construction 12 - 1 BR 1 BR - 849 SF LIHTC - 9% (TDHCA)
411 W Hawkins Pkwy Garden Style 32 - 2 BR 2 BR - 1102 SF $8,740,526
Longview, TX 75604 Family 32 - 3 BR 3 BR - 1303 SF
Affordable and Market 2 - 4 BR 4 BR - 1561 SF
N/A N/A
Rate Total Unit 78
30%, 50%, 60% AMI
Tylor Grand New Construction 32 - 1 BR 1 BR - 849 SFt LIHTC - 9% (TDHCA)
3702 Rolling Green Dr. Garden Style 64 - 2 BR 2 BR - 1102 SFt $13,914,133
Abilene, TX 79606 Family 20 - 3 BR 3 BR - 1303 SFt
Affordable 4 - 4 BR 4 BR - 1561 SFt
N/A N/A
30%, 50%, 60% AMI Total Unit 120
The Roxton Rehab 16 - 1 BR 1 BR - 613 SF LIHTC - 9% (TDHCA)
307 N. Loop 288 Garden Style 86 - 2 BR 2 BR - 803 SF $14,500,717
Denton, TX 76209 Family 24 - 3 BR 3 BR - 1004 SF
Affordable & Market Rate Total: 126
N/A NGBS Emerald
30%, 50% & 60% AMI
Pinnacle at North Chase New Construction 32 -1 BR 1 BR - 883 SF LIHTC - 9% (TDHCA)
3851 N. Broadway Avenue Garden Style 64 - 2 BR 2 BR - 1188 SF $12,596,114
Tyler, TX 75702 Family 20 - 3 BR 3 BR - 1314 SF
Affordable 4 - 4 BR 4 BR - 1552 SF
N/A
30%, 50% & 60% AMI Total: 120
Villages at Tarpon Rehabilitation 26 - 0 BR 0 BR - 396/435 SF LIHTC - 9% (FHFC)
Walton Village Garden Style 69 - 1 BR 1 BR - 544/560/580
Lemon Village Elderly Total = 95 SF
Pine Village
N/A
North Ring VillageConcerted Revitalization Plan
The proposed Vi Collina development is located in the East Riverside/Oltorf Combined Neighbor-
hood Plan (EROC), near the city’s Community Preservation and Revitalization Zone (CRPZ) and on
an Imagine Austin (IA) growth corridor. We feel this development will contribute to the overall vision
and goals of the EROC, CRPZ, IA and the Austin Strategic Housing Blueprint (SHB).
A goal of the IA is for at least 75% of all new housing units to be within a ½ mile of the growth corri-
dors. Vi Collina is within 200 yards of one of these growth corridors.
The EROC Vision and Goals focus on preserving and improving the neighborhood, cultural diversity,
respecting the environment and building a strong
community while maintaining affordability. Sai-
gebrook Development reflects these goals in each
of its prior developments. In the early conceptual
phases of each property, we reach out to nearby
neighbors, not simply to provide information of our
plans, but to ask for input and feedback through the
planning process. We find this feedback to be in-
valuable in the design process. It allows us to pre-
serve and enhance the character of the neighbor-
hood and surrounding community. In past devel-
opments, we have reduced the density on those
borders adjacent to single-family neighborhoods.
Saigebrook Development also brings learning and personal growth opportunities to the community we
create. On a regular basis, we bring in experts to provide classes and information for first time home
buyers, healthy eating, financial advisors among others
to allow our residents and neighbors an educational op-
portunity they may not have had otherwise.
Early in the site design phases, we work with our engi-
neering team to incorporate bus stops when needed and
pedestrian access to sidewalks, public transit and bicycle
paths. We will provide bicycle storage and wider side-
walks where needed, as it is on a Future Transit Corridor
offering high-frequency public transit stops again re-
flecting priorities of IA and EROC.
The principals of Saigebrook also recognize the importance of art education, reflecting a priority of IA
to grow and invest in Austin’s creative economy. In each one of our communities we commission a lo-
cal artist to create an original sculpture, mosaic, or other
form of art work. Our continued commitment to Art in Pub-
lic Places aims to provide a sense of community to each
property and, quite often, local children are provided the op-
portunity to participate in the artist’s creation, thereby creat-
ing a sense of pride and achievement within their neighbor-
hood. This is also in line with the EROC’s vision of main-
taining and building a strong sense of community.The City’s most recent Comprehensive Housing Market Analysis, estimated a 16.5% decrease in the number of rental units affordable to households earning $25,000 per year when compared with 2012 in- ventory. This analysis also identified a growing need for affordable housing near transit to provide a wider array of housing choices for persons with disabilities and to mitigate the financial impact of rising transportation costs. In February 2015, the Martin Prosperity Institute named the Austin metro area the most economically segregated area in the United States. Vi Collina will include a mix of affordable units restricted to residents making 30%, 50% and 60% of the Area Median Family Income and combine these units with market-rate units resulting in a diverse, mixed-income property. In addition, we will provide 10 PSH units, help- ing the City to meet the goal of 100 PSH Units per year. One of the program priorities of IA and CRPZ is to maintain affordability throughout Austin. This priority is not only aimed at household costs such as rent or mortgage but also transportation and access to daily essen- tial needs. Vi Collina is near the CRPZ and on a future transit corridor currently offering high-frequency stops. The SHB suggests the City should focus affordable housing policy on both income-restricted units and on non-subsidized market-rate construction. Vi Collina will include 12-25% market rate units in the development, making it a true mixed- income community. This blueprint also recommends affordable housing units that are created or preserved should have two or more bedrooms and a system to provide opportunities for families with children. Roughly 75% of the residences in Vi Collina will be gear toward families. Providing options for 1,2 and 3 bedroom units. Because of these elements, we feel Vi Collina will contribute most significantly to the vision and goals of the EROC and IA.
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